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Balance Sheet Offsetting
 6 Months Ended
Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Balance Sheet Offsetting Balance Sheet Offsetting and Repurchase Agreements
Balance Sheet Offsetting. Certain financial instruments, including resell and repurchase agreements and derivatives, may be eligible for offset in the consolidated balance sheet and/or subject to master netting arrangements or similar agreements. Our derivative transactions with upstream financial institution counterparties are generally executed under International Swaps and Derivative Association (“ISDA”) master agreements which include “right of set-off” provisions. In such cases there is generally a legally enforceable right to offset recognized amounts and there may be an intention to settle such amounts on a net basis. Nonetheless, we do not generally offset such financial instruments for financial reporting purposes.
Information about financial instruments that are eligible for offset in the consolidated balance sheet as of June 30, 2024 is presented in the following tables.
Gross Amount
Recognized		Gross Amount
Offset		Net Amount
Recognized
June 30, 2024
Financial assets:
Derivatives:
Interest rate contracts$80,091 $— $80,091 
Commodity contracts23,411 — 23,411 
Total derivatives103,502 — 103,502 
Resell agreements84,650 — 84,650 
Total$188,152 $— $188,152 
Financial liabilities:
Derivatives:
Interest rate contracts$7,166 $— $7,166 
Commodity contracts32,026 — 32,026 
Total derivatives39,192 — 39,192 
Repurchase agreements3,762,942 — 3,762,942 
Total$3,802,134 $— $3,802,134 
Gross Amounts Not Offset
Net Amount
Recognized		Financial
Instruments		CollateralNet
Amount
June 30, 2024
Financial assets:
Derivatives:
Counterparty H$32,594 $(15,265)$(16,030)$1,299 
Counterparty F16,299 (10,399)(3,889)2,011 
Counterparty B24,125 (6,362)(16,870)893 
Counterparty E15,855 (1,913)(13,040)902 
Other counterparties14,629 (5,253)(8,294)1,082 
Total derivatives103,502 (39,192)(58,123)6,187 
Resell agreements84,650 — (84,650)— 
Total$188,152 $(39,192)$(142,773)$6,187 
Financial liabilities:
Derivatives:
Counterparty H$15,265 $(15,265)$— $— 
Counterparty F10,399 (10,399)— — 
Counterparty B6,362 (6,362)— — 
Counterparty E1,913 (1,913)— — 
Other counterparties5,253 (5,253)— — 
Total derivatives39,192 (39,192)— — 
Repurchase agreements3,762,942 — (3,762,942)— 
Total$3,802,134 $(39,192)$(3,762,942)$— 
Information about financial instruments that are eligible for offset in the consolidated balance sheet as of December 31, 2023 is presented in the following tables.
Gross Amount
Recognized		Gross Amount
Offset		Net Amount
Recognized
December 31, 2023
Financial assets:
Derivatives:
Interest rate contracts$70,233 $— $70,233 
Commodity contracts49,489 — 49,489 
Foreign currency contracts1 — 1 
Total derivatives119,723 — 119,723 
Resell agreements84,650 — 84,650 
Total$204,373 $— $204,373 
Financial liabilities:
Derivatives:
Interest rate contracts$20,293 $— $20,293 
Commodity contracts20,999 — 20,999 
Foreign currency contracts19 — 19 
Total derivatives41,311 — 41,311 
Repurchase agreements4,127,188 — 4,127,188 
Total$4,168,499 $— $4,168,499 
Gross Amounts Not Offset
Net Amount
Recognized		Financial
Instruments		CollateralNet
Amount
December 31, 2023
Financial assets:
Derivatives:
Counterparty H$36,551 $(8,870)$(27,170)$511 
Counterparty F31,202 (7,444)(22,954)804 
Counterparty B23,829 (5,151)(18,472)206 
Counterparty E13,271 (4,548)(8,723)— 
Other counterparties14,870 (6,418)(7,520)932 
Total derivatives119,723 (32,431)(84,839)2,453 
Resell agreements84,650 — (84,650)— 
Total$204,373 $(32,431)$(169,489)$2,453 
Financial liabilities:
Derivatives:
Counterparty H$8,870 $(8,870)$— $— 
Counterparty F7,444 (7,444)— — 
Counterparty B5,151 (5,151)— — 
Counterparty E4,548 (4,548)— — 
Other counterparties15,298 (6,418)(8,580)300 
Total derivatives41,311 (32,431)(8,580)300 
Repurchase agreements4,127,188 — (4,127,188)— 
Total$4,168,499 $(32,431)$(4,135,768)$300 
Repurchase Agreements. We utilize securities sold under agreements to repurchase to facilitate the needs of our customers and to facilitate secured short-term funding needs. Securities sold under agreements to repurchase are stated at the amount of cash received in connection with the transaction. We monitor collateral levels on a continuous basis. We may be required to provide additional collateral based on the fair value of the underlying securities. Securities pledged as collateral under repurchase agreements are maintained with our safekeeping agents.
The remaining contractual maturity of repurchase agreements in the consolidated balance sheets as of June 30, 2024 and December 31, 2023 is presented in the following tables.
Remaining Contractual Maturity of the Agreements
Overnight and ContinuousUp to 30 Days30-90 DaysGreater than 90 DaysTotal
June 30, 2024
Repurchase agreements:
U.S. Treasury$1,889,019 $— $— $— $1,889,019 
Residential mortgage-backed securities1,873,923 — — — 1,873,923 
Total borrowings$3,762,942 $— $— $— $3,762,942 
Gross amount of recognized liabilities for repurchase agreements$3,762,942 
Amounts related to agreements not included in offsetting disclosures above$— 
December 31, 2023
Repurchase agreements:
U.S. Treasury$3,300,662 $— $— $— $3,300,662 
Residential mortgage-backed securities826,526 — — — 826,526 
Total borrowings$4,127,188 $— $— $— $4,127,188 
Gross amount of recognized liabilities for repurchase agreements$4,127,188 
Amounts related to agreements not included in offsetting disclosures above$—